Three Federal Reserve officials issue warnings: The labor market remains weak, and expectations for a rate cut in September are rising

Three Federal Reserve officials expressed concerns about the weakness in the U.S. labor market, suggesting a possible interest rate cut in September. Data showed that 73,000 new non-farm jobs were added in July, far below expectations. San Francisco Federal Reserve Bank President Mary Daly pointed out that if the labor market deteriorates further, adjustments to interest rates may be needed to balance economic risks. Federal Reserve Governor Christopher Waller mentioned significant revisions to employment data, which could indicate a turning point in the economic cycle. Neel Kashkari believes that the economic slowdown warrants an adjustment to the federal funds rate in the short term. The market is focused on whether the September meeting will initiate a rate-cutting cycle